THE KOREAN CHURCH OF QUEENS

EIN: 237055647 501(c)(3)

EAST ELMHURST, NY

Total Revenue
$2,336,119
Total Expenses
$2,121,352
Total Assets
$27,474,445
Net Assets
$26,968,125
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
NY
Principal Officer
CHARLES CHA
Phone
7186721150
Tax Period
2020-01-01 to 2020-12-31

THE KOREAN CHURCH OF QUEENS, founded in 1969, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2020. Expenses of $2.1M left a modest 9% surplus.

Mission

TO PROVIDE WORSHIP SERVICE TO CHRISTIANS AND PERFORM MISSIONARY ACTIVITIES UNDER THE NAME OF JESUS CHRIST.

Program Service Accomplishments

Program 1
Expenses: $1,201,682

TO PROVIDE WORSHIP SERVICE AND BIBLE STUDY CLASSES TO CHRISTIANS UNDER THE NAME OF JESUS CHRIST.

Program 2
Expenses: $210,606

TO PERFORM MISSIONARY ACTIVITIES AND SUPPORT MISSIONARIES UNDER THE NAME OF JESUS CHRIST.

Program 3
Expenses: $450,527

TO PROVIDE FINANCIAL SUPPORT TO NEEDY NEIGHBORS AND COVID-19 VICTIMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $2,336,119
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,336,119

Expense Breakdown

Grants Paid $0
Salaries & Benefits $856,700
Fundraising Expenses $0
Program Expenses $1,862,815
Other Expenses $1,264,652
TOTAL EXPENSES $2,121,352

Year-over-Year Comparison

2020 2019 Change
Revenue $2,336,119 $2,414,637 0.0%
Expenses $2,121,352 $2,697,885 -0.2%
Net Income $214,767 $-283,248 -1.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
14
Volunteers
13

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$72,000
Total Directors
3
$72,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV YOUN SOO KIM PRESIDENT 40.00
Officer Director
$72,000 $0 $72,000
YOO HANG JEON SECRETARY 10.00
Officer Director
$0 $0 $0
INNO KIM TREASURER 10.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2020 $2,336,119 $2,121,352 $27,474,445 $214,767
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